ATLANTA & MOUNT KISCO, N.Y.--(BUSINESS WIRE)--Jan 13, 2025--
Roark Capital (“Roark”) and Kohlberg announced a strategic partnership with GPRS Holdings ("GPRS" or the "Company”). Kohlberg, the previous majority owner of the Company, will remain a minority investor and partner with Roark to further accelerate growth. The Company’s management team, led by CEO Matt Aston, will continue to lead GPRS and remain significant owners of the business.
Headquartered in Maumee, Ohio, GPRS provides subsurface damage prevention, existing conditions documentation, and facility management solutions to utilities, contractors, engineers, and businesses in every major market in the United States. The Company’s full suite of essential infrastructure visualization services allow GPRS to support clients through the entire asset life cycle from design through construction and long-term operations. Having pioneered SiteMap, a software solution that delivers crucial up-to-date infrastructure visualization information, GPRS is continuing to develop innovative services for its clients.
Matt Aston commented, “We are thrilled to partner with Roark while continuing our valued partnership with Kohlberg. All three organizations share a vision for innovation, growth, and operational excellence. Together, we will continue to lead the industry in providing solutions that ensure safety and efficiency for our customers.”
Mike Thompson, Managing Director at Roark, said, “GPRS has established itself as a leader in the industry, and we are excited to partner with them to support their continued growth and innovation. GPRS’s unique offerings provide a compelling value proposition to thousands of clients around the country, helping to maintain high standards of safety. We see tremendous opportunity ahead for the GPRS team.”
“GPRS’s service delivery model, culture, and track-record of excellence in the industry align perfectly with Roark’s investment philosophy,” said Mark Lawrence, Principal at Roark. “We are thrilled to partner with Matt and the entire team on this next chapter.”
Benjamin Mao, Senior Partner at Kohlberg, said, “It has been a pleasure collaborating with Matt and the entire GPRS team to grow and expand the Company. We are proud of the tremendous progress GPRS has made during our partnership and are excited to continue supporting their future growth alongside Roark.”
Gus Harwood, Partner at Kohlberg, concluded, “At this critical juncture in GPRS’ evolution, we are excited to build upon this success with Roark, a firm well recognized for working with companies to accelerate growth. With the support of Roark and Kohlberg, we are confident in GPRS’ ability to continue expanding and delivering industry-leading services to both new and existing customers.”
Guggenheim Securities LLC served as exclusive financial advisor and Paul Weiss served as legal advisor to Roark.
Harris Williams, Houlihan Lokey, and Keybanc Capital Markets served as financial advisors and Ropes & Gray served as legal advisor to GPRS.
About GPRS
Headquartered in Maumee, Ohio, GPRS provides subsurface damage prevention, existing conditions documentation, and facility management solutions to utilities, contractors, engineering firms, environmental consultants, and facility owners and operators in every major market in the United States. To learn more, visit www.gprsinc.com.
About Roark Capital
Roark Capital (“Roark”) is an Atlanta‐based private equity firm with $38 billion in assets under management. Roark focuses on investments in consumer and business service companies, with a specialization in franchise and franchise-like business models, and prides itself on being a trusted partner for management and business owners. Roark brands generate approximately $95 billion in annual system revenues from 107,000 locations located in 50 states and 121 countries. For more information, please visit www.roarkcapital.com.
About Kohlberg
Founded in 1987, Kohlberg & Company (“Kohlberg”) is a leading U.S. middle market private equity firm based in Mount Kisco, New York. The firm invests in companies characterized by strong brands, recurring revenue streams and leading market positions, which it identifies through rigorous thematic research grounded in its White Paper Program. Leveraging its team of investment and operating partners, Kohlberg works with management teams to accelerate growth, enhance operational excellence and create value. As of September 30, 2024, Kohlberg manages approximately $15 billion on behalf of institutional investors globally. For more information, please visit www.kohlberg.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250113866925/en/
CONTACT: Media Contact
For Kohlberg:
Amanda Shpiner/Iain Hughes
Gasthalter & Co.
212-257-4170
[email protected] Roark:
Kate Thompson
Joele Frank Wilkinson Brimmer Katcher
212-895-8606
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK GEORGIA
INDUSTRY KEYWORD: TECHNOLOGY CONSTRUCTION & PROPERTY FINANCE ENGINEERING PROFESSIONAL SERVICES MANUFACTURING SOFTWARE ASSET MANAGEMENT OTHER CONSTRUCTION & PROPERTY
SOURCE: Roark Capital and Kohlberg & Company, L.L.C.
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PUB: 01/13/2025 11:00 AM/DISC: 01/13/2025 11:01 AM
http://www.businesswire.com/news/home/20250113866925/en
